B Beamie Registered User Messages 28 3 Oct 2021 #1 Hi, I am 59 years old, a member of a company defined contribution pension scheme, employee contribution 5% / company contribution 6%. I see on the revenue website that the limit for tax relief on pension contributions for my age is 35%. I earn much less than €115,000 per year. My question is, can I get tax relief on AVCs up to 30% of my gross salary? I am unclear whether my employer's contribution counts towards the 35% limit. Thanks.
Hi, I am 59 years old, a member of a company defined contribution pension scheme, employee contribution 5% / company contribution 6%. I see on the revenue website that the limit for tax relief on pension contributions for my age is 35%. I earn much less than €115,000 per year. My question is, can I get tax relief on AVCs up to 30% of my gross salary? I am unclear whether my employer's contribution counts towards the 35% limit. Thanks.
C Conan Registered User Messages 1,719 3 Oct 2021 #2 Assuming your pension plan is NOT a PRSA, then YES. If your pension plan is a standard DC pension plan, then you can contribute an AVC of 30%.
Assuming your pension plan is NOT a PRSA, then YES. If your pension plan is a standard DC pension plan, then you can contribute an AVC of 30%.
B Beamie Registered User Messages 28 3 Oct 2021 #3 Great, thanks Conan for the quick and clear response.
G Gordon Gekko Registered User Messages 7,936 3 Oct 2021 #4 Conan said: Assuming your pension plan is NOT a PRSA, then YES. If your pension plan is a standard DC pension plan, then you can contribute an AVC of 30%. Click to expand... 35% though, and possibly 40% if the OP is turning 60 between now and 31 December.
Conan said: Assuming your pension plan is NOT a PRSA, then YES. If your pension plan is a standard DC pension plan, then you can contribute an AVC of 30%. Click to expand... 35% though, and possibly 40% if the OP is turning 60 between now and 31 December.